Crude Oil News

NISOC Output Near 3mbpd
Iran >> 8/30/2016 - NISOC crude output has been stabled near 3 million barrels per day, announced company’s Managing Director. ...
NISOC Taking Strides to Produce 3.03mbd Output
Iran >> 8/30/2016 - According to Managing Director of NISOC, the company is planning to bring its crude oil production to slightly over 3 million barrels per day by March 2017, end of the current Iranian calendar year. ...
Iran Working on Long-Term Oil Sales Plan
Iran >> 8/9/2016 - Iran says it is working on a plan that guarantees long-term purchases of its crude oil by European clients in a post-sanctions era. ...
Gazprom Neft Tests New EFP Exchange Trading Mechanism for Russian xport Crude on SPIMEX
Russia >> 8/8/2016 - Gazprom Neft has become the first of Russia’s oil companies to test the new “Exchange of Futures for Physicals (EFP)” mechanism (a transaction between two parties in which a futures contract on a comm...
Oil Refiners Gather in Bahrain to Discuss Residue Upgrading as a Route to Increasing Margins
Bahrain >> 8/1/2016 - The consequences of a low crude price impacts major investment projects for many companies. Some economies are more vulnerable to low crude prices such as those that are highly dependent on oil-associ...
Iran Eyes 4mbd Crude Output in H1 of 2016
Iran >> 7/16/2016 - Managing Director of National Iranian Oil Company (NIOC) Ali Kardor said Iran is planning to bring its crude oil output to 4 million barrels per day (mbd) in the first half of the current Iranian cale...
MOGPC Crude to Reach 600,000 bpd
Iran >> 7/5/2016 - Managing Director of Maroun Oil & Gas Producing Company said, producing 600,000 barrels of crude oil per day from Maroun, Koulal and Shadegan oilfields, is on company’s agenda. ...
Crude Oil & Oil Products Export for June 2016
Azerbaijan >> 7/1/2016 - In June 2016, SOCAR has exported 159 574 tons of crude oil from Novorossiysk port, 176 120 tons from Supsa port, 1 340 337 tons from Ceyhan port. Generally, 479 073 tons of crude oil was exported from...
Crude Oil Prices in June 2016
Azerbaijan >> 7/1/2016 - In June 2016, price for Brent crude oil in the world market was $48.34 per barrel, Urals oil - $47.15 and BTC FOB Ceyhan crude oil - $49.41.
Iran to Increase Crude Supply Despite Low Prices
Iran >> 6/28/2016 - Iran’s Petroleum Minister Bijan Namdar Zangeneh has reiterated Tehran’s determination to increase oil production in the face of a downward spiral of global crude prices. ...
Marsol International Supports OOCEP’s First Crude Oil Export
Marsol International Supports OOCEP’s First Crude Oil Export Oman >> 6/23/2016 - Marsol International, a UAE-based global marine solutions provider focused on the offshore oil terminal market and related infrastructure, has successfully supported Oman Oil Company Exploration & Pro...
Pakistan & Azerbaijan Agree to Ink Energy Deals
Azerbaijan >> 6/21/2016 - Continuing with its recent drive to promote regional economic cooperation, Pakistan agreed to sign government-to-government deals with Azerbaijan in various fields including supply of electricity, cru...
Iran Extracts 763 mb from Joint Oilfield with Saudi Arabia
Iran >> 6/19/2016 - Irans crude oil recovery from Forouzan Oilfield, which it shares with Saudi Arabi in Persian Gulf waters, has reached 763 million barrels, 24% of the fields total oil output. ...
Rosneft Extends the Contract for Crude Supplies to the Czech Republic with PKN Orlen
Russia >> 6/16/2016 - Rosneft and Polski Koncern Naftowy ORLEN S.A. (PKN Orlen) have signed an extension of the contract for crude oil supplies to the Czech Republic at the XX St. Petersburg International Economic Forum. T...
The Light Sweet/Medium Sour Crude Spread - May 2016
Austria >> 6/7/2016 - Contrary to the previous month, sweet/sour differentials narrowed in all markets, particularly in Asia. ...
The Crude Oil Futures Market Structure - May 2016
The Crude Oil Futures Market Structure - May 2016 Austria >> 6/6/2016 - Oil futures surged by more than 8% to above $40/b in April, as market sentiment turned more upbeat amid signs that a persistent global supply glut may be easing. Strong gasoline consumption in the Uni...
Crude Oil & Oil Products Export for May 2016
Azerbaijan >> 6/1/2016 - In May 2016, SOCAR has exported 79 963 tons of crude oil from Novorossiysk port, 264 748 tons from Supsa port, 1 454 760 tons from Ceyhan port. Generally, 319 499 tons of crude oil was exported from N...
Iran Extends Crude Sale Deal with Turkey
Iran >> 5/26/2016 - An NIOC official announced that the existing oil export contract with Turkeys largest refinery has been extended. Executive Director for International Affairs at National Iranian Oil Company (NIOC) Se...
Crude Oil & Oil Products Export for April 2016
Azerbaijan >> 5/2/2016 - In April 2016, SOCAR has exported 159 599 tons of crude oil from Novorossiysk port, 176 598 tons from Supsa port, 1 112 953 tons from Ceyhan port. Generally, 239 536 tons of crude oil was exported fro...
South Korea Seeks to Double Crude Imports from Iran
Iran >> 4/27/2016 - A new report says South Korea intends to more than double its imports of crude oil and natural gas condensate from Iran. The Tuesday report by The Korea Times quoted ‘industry sources’ as saying that ...

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